Enterprise Risk Management Technology Guide 2023

Milliman - Milliman Long–term care Advanced Risk Analytics™ (Milliman LARA™)

Type of System

  • Analytics
  • Operational risk management
  • Risk score solution; risk management

What are the typical implementation costs?

Per-life fee that includes implementation.

How long does your software take to implement on site?

Software is run by Milliman and results are given to the client. The project timeline depends on the scope and data quality. It can vary from a few weeks to a few months.

Most recent significant update:

New offering to the market.

Planned future enhancements:

Potential future expansion may include claim cost estimate, risk assessment, and program effectiveness KPIs.

In addition, we plan to expose a web API that allows our clients to run the software on demand.

How does your solution integrate with third-party systems or in-house systems?

The models utilise various data sources to give companies the option to select the information that feeds the LARA models’ intelligence. These data sources include various proprietary personalised third-party data sources (e.g., consumer marketing and social determinants of health data) along with LTC risk tiers developed from medical and prescription drug information from Milliman IntelliScript®.

LARA intelligence output includes a seriatim listing of high-risk insureds, which is output in a .txt format that can be integrated with systems. This listing includes claim probabilities and risk drivers.  The seriatim detail provided with the LARA intelligence output, including drivers of risk, allows for customised and focused interventions.

What is the key attribute of your product(s) that differentiates it from your competitors?

Milliman LTC Advanced Risk Analytics is a proprietary suite of predictive modelling solutions that focuses on early identification of potential LTC claimants to prioritise them for interventions aimed at preventing claims, delaying their need to utilise LTC services, and/or reducing the severity of services needed. LARA models utilise proprietary personalised variables derived from third-party data sources (e.g., consumer marketing and social determinants of health data), along with medical and prescription drug data from Milliman IntelliScript®

Milliman LARA also places strong scrutiny on potential biases embedded in data and models.

What trends are you seeing in terms of customer demand?

LTC industry is focused on solutions to help manage LTC risk. There are several ongoing pilots to see which tools and interventions are going to be useful to help individuals age in place. Customers are looking at both their pre-claim population as well as their claimant population.


Milliman LTC Advanced Risk Analytics helps companies identify and contact individuals who are in need of extra wellness support to delay or reduce LTC (long-term care) claims and to age-in-place in their homes.


Name: Juliet Spector

Tel: +1 312 499 5661

Email: [email protected]